Vidalia Re, Inc.(Vermont); Profile, Contacts, Claims, Services, Reviews, Cancellations, and Renewals

Vidalia Re, Inc. is a special-purpose financial captive insurance company, wholly owned by Primerica Life Insurance Company.

It was founded in Vermont and operates under the regulatory oversight of the Vermont Department of Financial Regulation.

A Brief History of Vidalia Re, Inc.

• 2010: Primerica Life enters into a coinsurance agreement with Vidalia Re, transferring 90% of the risks and rewards of its in-force term life policies.
• 2014: Vidalia Re enters into a surplus note purchase agreement with Hannover Re to finance a portion of its reserves.
• 2016: Vidalia Re and Primerica Life undergo scheduled examinations by their respective domiciliary state insurance departments, with no material findings or recommendations noted.
• 2020: Vidalia Re and Primerica Life enter into a new coinsurance agreement, further expanding the scope of policies reinsured by Vidalia Re.
• 2023: Vidalia Re enters into a new surplus note purchase agreement with Hannover Re and a third-party service provider, further enhancing its financial flexibility.

Mission

Vidalia Re’s primary mission is to assume certain levels of premium term life insurance policies from Primerica Life Insurance Company through coinsurance agreements.

This allows Primerica Life to manage its risk profile and distribute statutory profits to its parent company, Primerica, Inc.

 

History of Vidalia Re, Inc.

• 2010: Primerica Life enters into a coinsurance agreement with Vidalia Re, transferring 90% of the risks and rewards of its in-force term life policies.
• 2014: Vidalia Re enters into a surplus note purchase agreement with Hannover Re to finance a portion of its reserves.
• 2016: Vidalia and Primerica Life undergo scheduled examinations by their respective domiciliary state insurance departments, with no material findings or recommendations noted.
• 2020: Vidalia and Primerica Life enter into a new coinsurance agreement, further expanding the scope of policies reinsured by Vidalia Re.
• 2023: Vidalia enters into a new surplus note purchase agreement with Hannover Re and a third-party service provider, further enhancing its financial flexibility.

Vidalia Re, Inc. Values

• Financial Stability: Vidalia is committed to maintaining a strong financial position to ensure its ability to meet its obligations to policyholders and reinsurers.
• Risk Management: Vidalia employs disciplined risk management practices to identify, assess, and mitigate potential risks.
• Operational Excellence: Vidalia strives for continuous improvement in its operations to ensure efficiency and effectiveness.
• Compliance: Vidalia is committed to complying with all applicable laws and regulations.
• Integrity and Ethics: Vidalia conducts its business with the highest standards of integrity and ethics.

Contact Information of Vidalia Re, Inc.

Due to its private nature as a captive insurance company, Vidalia’s contact information is not readily available to the public. For insurance services, you can contact the parent company through the following contacts;

Primerica Life Insurance Company

1. By Phone:
   • Customer Service: 1-800-334-0575
   • Claims (U.S. and Canada): 1-800-387-7876
   • TTY: 1-877-775-7399
   • International: +1-404-685-7386
2. Online:
   • Website: Primerica Client Portal
   • Live Chat: Available on the Primerica Life website
   • Secure Message Center: Accessible through your online account
3. By Mail:
   • Customer Service: Primerica Life Insurance Company P.O. Box 1344 Duluth, GA 30099-1344
   • Claims: Primerica Life Insurance Company Claims Department P.O. Box 1344 Duluth, GA 30099-1344
4. By Fax:
   • Customer Service: 1-800-335-2534

The Process of Filling Claims with Vidalia Re, Inc.

Vidalia doesn’t deal directly with claims from policyholders because they only reinsure policies from their parent company, Primerica Life Insurance Company.

If you have a claim related to a policy taken over by Vidalia, Primerica Life will handle it.

Here’s how you file a claim with Primerica Life:

1. Tell Primerica Life: When something covered happens, let Primerica Life know right away. You can do this by phone, online, or by using a specific claim form they provide.
2. Give them Forms: Fill out all the necessary claim forms and hand over any needed documents, like death certificates, medical records, or police reports, depending on the claim type.
3. Check and Process: Primerica Life looks at your claim, making sure it follows the policy rules. They might talk to you and ask for more info if needed.
4. Claim Decision: Once they’re done checking, Primerica Life will tell you if your claim is approved or not. If it’s okayed, you get the benefits as per the policy. If not, they’ll explain why.
5. Sort Out Disputes: If you don’t agree with the decision, you can challenge it using Primerica Life’s internal dispute resolution. This might mean giving more info or asking for another review.

Remember, how you file a claim can differ based on your policy and what happened.

So, always look at your policy documents and get in touch with Primerica Life for help during the process.

Services and Products Offered by Vidalia Re, Inc.

Vidalia offers important services and products that help its parent company, Primerica Life Insurance Company, handle term life insurance policies. Here’s a breakdown:

1. Coinsurance of Term Life Policies: Vidalia’s main job is sharing the risks and rewards of term life insurance policies with Primerica Life. This helps Primerica Life handle risks better and stay financially stable.
2. Surplus Note Financing: Vidalia works with reinsurers like Hannover Re to get surplus note financing. This means Vidalia Re can borrow money to meet its capital needs. This helps Vidalia Re grow and expand.
3. Risk Management Services: Vidalia offers risk management services to Primerica Life as part of its coinsurance agreements. These services help Primerica Life identify, understand, and deal with potential risks in its insurance business.

Ratings of Vidalia Re, Inc.

Finding ratings and customer reviews for Vidalia is tricky because of a few reasons:

1. Not Like Regular Insurance Companies: Vidalia is a captive insurance company. It doesn’t sell insurance to the public and isn’t on the stock market. That means it doesn’t go through the usual rating and review stuff like regular insurance companies do.
2. Keeps Things Private: Vidalia keeps its financial info private. So, you won’t easily find details about how well it’s doing or how stable it is.
3. Focus on Reinsurance: Vidalia mostly deals with reinsuring policies from Primerica Life Insurance Company. So, if you see customer reviews, they’re likely about the experience with Primerica Life, not directly about Vidalia Re

 

Conclusions

Vidalia operates as a captive insurance company with a unique focus on reinsuring policies from its parent company, Primerica Life Insurance Company.

Due to its private nature and the fact that it doesn’t directly offer insurance to the public, there is limited publicly available information about its ratings and customer reviews.

Vidalia’s role in supporting Primerica Life’s risk management and financial stability underscores its niche in the insurance industry.

As a result, individuals seeking information about Vidalia may find it challenging to access comprehensive details about its performance and customer experiences.